DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1523845
29 July 2024 I N D U S T R Y U P D A T E GATEWAY LAUNCHES MILITARY MORTGAGE ADVISOR CERTIFICATION G ateway Mortgage, a division of Gateway First Bank, is a provider of Veteran's Affairs (VA) Home Loans to America's Active-Duty military personnel, honorably discharged Veterans, surviving spouses, Reservists, and the National Guard. As a part of the company's commitment to the armed forces, Gateway is launching a new Military Mortgage Advisor certification. Because VA Home Loans are unique compared to other types of mortgage products, Gateway wants to ensure our loan origination team is extremely well versed so that the home loan process is easy and as stress-free as possible," said Mark Revard, Divisional EVP and National Production Manager for Gateway. "Often, the home purchase process begins while military members are deployed overseas and preparing to return to the United States." VA Loans provide tremendous advantages that enable homeownership for the men and women who have served our country in the U.S. military. Since the U.S. Department of Veteran Affairs partially insures these loans, unique benefits include up to 100% financing with no down payment, easier qualification requirements, reduced interest rates, lower closing costs, and no required Private Mortgage Insurance (PMI). "Gateway proudly offers this program to those who have answered the call to defend the freedoms all American families enjoy daily," said Jack Little, Area Manager in Bluffton, South Carolina. "Gateway's commitment to our service men and women can be seen by the service and products we offer and in how we partner with Folds of Honor. A portion of every closed home loan is donated to help with educational scholarships for the families of fallen and injured service men and women." To date, Gateway has donated over $700,000 to Folds of Honor. Little headed the committee that designed the Military Mortgage Certification program. ADFITECH RE- BRANDS AS MORT- GAGE CONNECT RISK SOLUTIONS A dfitech, a provider of quality control and risk management services for the mortgage indus- try, has rebranded as Mortgage Connect Risk Solutions, a name that reflects its place under the umbrella of its parent company, Mortgage Connect LP. Mortgage Connect—a national mort- gage services provider for the nation's largest financial institutions, investors, and servicers—acquired Adfitech in 2022 to expand its presence in the third-par- ty due diligence market. In February, the company appointed widely known industry veteran Kim Hoffman, CMB, AMP, to head the company as President. Under Hoffman's leadership, Mortgage Connect Risk Solutions is leaning heav- ily into technology-enabled solutions in the quality control, risk management, and due diligence sectors. "This pivot to Mortgage Connect Risk Solutions is the final step needed to solidify our position as part of the Mortgage Connect family," Hoffman said. "With the support of our parent company, we can continue to expand and offer the mortgage industry access to the most trusted, experienced quality con- trol, risk management, and due diligence solutions. We will leverage Mortgage Connect's industry reputation to bring the thought leadership and innovation that the company is well known for." Mortgage Connect Risk Solutions, which is approved by all five major rating agencies, offers a suite of services that includes all phases of mortgage quality control, mortgage due diligence and fulfillment, pre-funding quality control, servicing quality control, MERS regis- trations/transfers and annual attesta- tions, TPRs, and secure loan document management. It provides these critical risk management services to more than 300 clients, including six of the top 10 mortgage lenders, several high-profile Wall Street firms, and numerous banks and independent mortgage companies. VA Loans provide tremendous advantages that enable homeownership for the men and women who have served our country in the U.S. military.